Summary

Bill 61
Chartered Professional Accountants Act
Summary
EXPLANATORY NOTES
This Bill was tabled before the Quebec National Assembly on March 28, 2012 by
Mr. Jean-Marc Fournier, Minister of Justice and Minister responsible for the
administration of legislation respecting the professions.
PREAMBLE
The Bill constitutes the Ordre des comptables professionnels agréés du Québec.
The Bill brings together within a single order members of the three orders of accountants
currently governed by the Professional Code and the Chartered Accountants Act.
The Bill defines the field of practice of the CPA profession and reserves the practice of
public accounting to chartered professional accountants.
Lastly, the Bill introduces consequential and transitional provisions.
Abbreviations of the CA, CGA, CMA and CPA designations are used for readability
purposes.
CAVEAT
This document is a summary of Bill 61, the Chartered Professional
Accountants Act. It was prepared for information purposes only and is not
in any way a substitute for the sections of Bill 61 or the Acts and
regulations thereunder.
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ORDRE DES COMPTABLES PROFESSIONNELS AGRÉÉS DU QUÉBEC
All the persons qualified to practice the CPA profession in Quebec constitute a
professional order called the “Ordre professionnel des comptables professionnels
agréés du Québec” or “Ordre des comptables professionnels agréés du Québec.”
The Ordre and its members are governed by the Professional Code.
The Ordre is administered by a board of directors constituted as prescribed in the
Professional Code.
PRACTICE OF THE PROFESSION
The practice of the CPA profession consists, with respect to the accounting,
management, finances or taxation involved in the economic activities and patrimony of a
person, enterprise or organization, in:
(1) gathering and organizing financial and non-financial information, analyzing and
evaluating it, attesting to its conformity or certifying it, communicating the information
and providing advice in relation to it; and
(2) developing and evaluating policies, procedures, processes and controls related to
governance, strategy and risk management, attesting to their conformity or certifying
them, implementing them and providing advice in relation to them. These professional
activities make it possible to optimize the performance, profit and growth of the
patrimony of a person, enterprise or organization, ensure good governance of the
patrimony, increase information reliability and facilitate reporting.
Within the framework of the profession, the professional activity reserved to the
CPA is public accountancy. This activity consists in:
(1) expressing an opinion to provide a level of assurance about a financial statement or
any part of a financial statement, or about any other information related to the financial
statement; this corresponds to an assurance engagement, which comprises the
performance of both an audit engagement and a review engagement, as well as the
issue of special reports;
(2) issuing any form of certification, declaration or opinion in respect of information
related to a financial statement or to any part of a financial statement, or in respect of the
application of specified auditing procedures with respect to financial information, other
than financial statements, neither being intended exclusively for internal management
purposes; and
(3) performing a compilation engagement that is not intended exclusively for internal
management purposes.
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PUBLIC ACCOUNTANCY PERMITS
To engage in the elements of the professional activity described previously, except the
performance of compilation engagements not intended exclusively for internal
management purposes, a chartered professional accountant must obtain a public
accountancy permit.
The board of directors issues the permit if the CPA meets the terms and conditions for
the issue of permits set in a bylaw of the board.
CPAs who hold a public accountancy permit must use the title “auditor.” The title
of auditor must be preceded by the title “chartered professional accountant” or
the abbreviations or initials that refer to that title.
ACTIVITY RESERVED EXCLUSIVELY AND USE OF RESERVED TITLE
Subject to the rights and privileges expressly granted by law to other professionals, no
person who is not a member of the Ordre may engage in the reserved professional
activity, or in any way use the title “auditor” or any title or abbreviation that may lead to
the belief that the person is an auditor, unless the person holds a public accountancy
permit.
PROHIBITION IN RESPECT OF THE USE OF OTHER TITLES
No person may in any way whatsoever use the title “chartered accountant,”
“certified general accountant,” “certified management accountant” or
“professional accountant” or any title or abbreviation which may lead to the belief that
the person is a chartered accountant, certified general accountant, certified management
accountant or professional accountant, or use initials which may lead to the belief that
the person is a chartered accountant, certified general accountant, certified management
accountant or professional accountant.
REGULATORY PROVISIONS
The following regulations remain in force, unless they are replaced before then by the
board of directors of the Ordre des comptables professionnels agréés du Québec, up to
two years after the date of coming into force of the Act or any other later date
determined by the Government.
Sections 1.25, 1.28 and 1.29 of the Regulation respecting the diplomas issued by
designated educational institutions which give access to permits or specialist’s
certificates of professional orders continue to apply.
The Regulation respecting the committee on training of chartered accountants
becomes applicable to the Ordre des comptables professionnels agréés du Québec.
The Regulation respecting legal authorizations to practise as a certified
management accountant outside Québec that give access to the permit issued by the
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Ordre professionnel des comptables en management accrédités du Québec, becomes a
regulation of the Ordre des comptables professionnels agréés du Québec.
The Règlement sur la formation continue obligatoire des comptables en management
accrédités du Québec becomes a regulation of the Ordre des comptables professionnels
agréés du Québec, after certain amendments.
The Regulation respecting compulsory continuing education for Québec certified
management accountants who hold a public accountancy permit becomes a
regulation of the Ordre des comptables professionnels agréés du Québec, after certain
amendments.
The Code of Ethics of Chartered Accountants becomes the Code of Ethics of Chartered
Professional Accountants, after certain amendments.
The Regulation respecting the practice of the chartered accountancy profession
within a partnership or a joint-stock company becomes a regulation of the Ordre des
comptables professionnels agréés du Québec, after certain amendments and under
certain conditions.
TRANSITIONAL GOVERNANCE PROVISIONS
From the date of coming into force of the Act, the board of directors of the Ordre des
comptables professionnels agréés du Québec is composed of the following persons, for
the following terms:
- A president, elected by secret ballot by the directors for a term ending two years
following the coming into force of the Act, i.e., on the date the president elected takes
office, two years following the coming into force of the Act, as set by the Professional
Code.
- Six directors chosen from among the members of the board of directors of the
Ordre des CA du Québec through an election by secret ballot held among the
members of the board in office, for a term ending the second year that follows the year
of coming into force of the Act for two of them, the third year that follows the year of
coming into force of the Act for two of them and the fourth year that follows the year of
coming into force of the Act for two of them.
- Three directors chosen from among the members of the board of directors of the
Ordre des CGA du Québec through an election by secret ballot held among the
members of the board in office, for a term ending the second year that follows the year
of coming into force of the Act for one of them, the third year that follows the year of
coming into force of the Act for one of them and the fourth year that follows the year of
coming into force of the Act for one of them.
- Three directors chosen from among the members of the board of directors of the
Ordre des CMA du Québec through an election by secret ballot held among the
members of the board in office, for a term ending the second year that follows the year
of coming into force of the Act for one of them, the third year that follows the year of
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coming into force of the Act for one of them and the fourth year that follows the year of
coming into force of the Act for one of them.
- Four directors appointed by the Office des professions du Québec.
- Two vice-presidents are chosen through an election by secret ballot held among the
directors. Each of the three professional orders of accountants that exist shall be
represented in the positions of president and vice-president; their term ends on the
date the president elect takes office, two years following the coming into force of the Act,
under the conditions set by the Professional Code.
FINAL PROVISIONS
The Ordre des comptables professionnels agréés du Québec succeeds to the rights and
obligations of the Ordre des CA du Québec, the Ordre des CGA du Québec and the
Ordre des CMA du Québec.
Agreements entered into under the Professional Code with any body by the Ordre des
CA du Québec, the Ordre des CGA du Québec or the Ordre des CMA du Québec are
deemed to be entered into by the Ordre des comptables professionnels agréés du
Québec.
RECORDS HELD BY THE SYNDICS AND THE DISCIPLINARY COUNCILS
The records held by the offices of the syndic of the Ordre des CA du Québec, the Ordre
des CGA du Québec and the Ordre des CMA du Québec become records of the office of
the syndic of the Ordre des comptables professionnels agréés du Québec.
Matters pending before the disciplinary council of the Ordre des CA du Québec, the
Ordre des CGA du Québec or the Ordre des CMA du Québec are continued, heard and
decided by the disciplinary council that had been seized of it or before which the matter
was heard before the Act came into force.
Proceedings to which the Ordre des CA du Québec, the Ordre des CGA du Québec or
the Ordre des CMA du Québec is party are continued without continuance of suit by the
Ordre des comptables professionnels agréés du Québec.
ANNUAL ASSESSMENT
As long as the board of directors of the Ordre des comptables professionnels agréés du
Québec has not determined the amount of the annual assessment, the amount of that
assessment is deemed to be the same as the amount of the annual assessment due for
the year during which the Act comes into force and that assessment is subject to the
same rules in respect of the manner and date of payment.
PERMIT AND MEMBERSHIP ROLL
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A person holding a permit issued by the Ordre des CA du Québec, the Ordre des CGA
du Québec or the Ordre des CMA du Québec becomes the holder of a permit issued by
the Ordre des comptables professionnels agréés du Québec.
A person who is entered on the roll of the Ordre des CA du Québec, the Ordre des CGA
du Québec or the Ordre des CMA du Québec is entered on the roll of the Ordre des
comptables professionnels agréés du Québec.
USE OF TITLES
Members of the Ordre des comptables professionnels agréés must use the initials “CPA,
CA,” “CPA, CGA” or “CPA, CMA,” as the case may be, or the title that refers to those
initials for a period of ten years.
Persons who are authorized to use the title “auditor” are required to place that title after
the title “CPA”.
A member of the Ordre des CA du Québec, the Ordre des CGA du Québec or the Ordre
des CMA du Québec who, on the date preceding the date of coming into force of the
Act, uses more than one title because the person belongs to more than one of the
orders, may continue to use them until one year after the coming into force of the
Act.
The person must, before that date, choose one of those titles and inform the Secretary
of the Ordre des comptables professionnels agréés du Québec of the choice. If the
person fails to notify the Secretary, the person is deemed to have chosen the title he or
she was authorized to use upon first being entered on the roll of one of the orders.
REPORT ON THE APPLICATION OF THE PROVISIONS OF THE ACT
Eight years after the coming into force of the Act, the Ordre des comptables
professionnels agréés du Québec must report to the Office des professions du Québec
on the application of the provisions of the Act. The report must also include all the
information required by the Office. The Minister must, within three months after the end
of the eight years provided for, report to the Government on the application of the Act by
the Ordre, and include the report produced by the Ordre.
DATE OF COMING INTO FORCE
The Act will come into force on the date it is assented to.
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